Coca Cola Beats Off Kirin Beer Takeover Bid Down Under
Australia’s Coca-Cola firm, Amatil Ltd., has successfully beaten off (I know the title is loaded…so? What would you say here?) a takeover proposal by Japan beer maker Kirin Holdings Co. subsidiary Lion Nathan Ltd.The Aussie firm says the offer of roughly 8 billion Australian dollars, ($5 B) is not enough.
Kirin plans to “continue negotiations to gain understanding,” says a company official, meaning they will likely up the price down under.
Coca-Cola Amatil called off the talks under the proposed terms and conditions.
The U.S. firm Coca-Cola Co. (owns about 30% of Amatil) had already told Lion Nathan and Kirin that the proposed offer was not enough.
Chances are Kirin’s top execs will head to the pub while Amatil’s execs head to the soda fountain. Taking into account that they can really hold their cola in Australia, and the Japanese cannot hold their booze it might not take too long before Kirin really comes in with a sweet off.
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